Klook, a Hong Kong-based online activity booking platform for travelers, has raised a chunky $200 million in a series D round of funding from Sequoia China, TCV, Goldman Sachs, Matrix Partners, Boyu Capital, and OurCrowd, among others.
The company also confirmed to VentureBeat that it now has a valuation in excess of $1 billion, though it wouldn’t give an exact figure.
Founded in 2014, Klook serves as a platform for booking just about any kind of activity — from scuba diving and cookery courses to theme parks and spa treatments — in some of the most popular holiday destinations around the world.
The company had raised nearly $100 million before now, including a $60 million series C round less than a year ago, and with another $200 million in the bank it plans to double down on its expansion efforts in the U.S. and Europe.
“This round of funding marks an important milestone for us,” Klook cofounder and CEO Ethan Lin said in a press release. “The funding and extensive experience from our new investors will let us further solidify our merchant portfolio and provide travelers with even more activities and destinations to explore around the world.”
We’ve seen a slew of fairly hefty funding rounds for travel-themed startups lately. In April of this year, Culture Trip closed an $80 million round to monetize its travel content platform by hooking in with travel booking services. Elsewhere, Berlin-based travel booking company GetYourGuide recently raised $75 million, while San Francisco-based IfOnly nabbed $20 million for a similar proposition.
Travel booking startups, it seems, are hot.
“By leveraging their strength in digitally transforming their suppliers of tours and activities and tapping into the new generation of mobile-first travelers, Klook is emerging as the clear leader in the online tours and activities sector,” added Sequoia China managing partner Neil Shen.
Klook said that it’s on course to secure around $1 billion in activity bookings by the end of 2018.